Danaos Co. (NYSE:DAC) Stake Cut by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its holdings in Danaos Co. (NYSE:DAC) by 1.0% in the 1st quarter, Holdings Channel reports. The fund owned 24,918 shares of the shipping company’s stock after selling 247 shares during the period. Quadrature Capital Ltd’s holdings in Danaos were worth $1,797,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DAC. Acadian Asset Management LLC lifted its stake in Danaos by 41.3% in the 1st quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock worth $42,647,000 after acquiring an additional 172,832 shares in the last quarter. Significant Wealth Partners LLC increased its position in Danaos by 1,048.0% in the 1st quarter. Significant Wealth Partners LLC now owns 43,798 shares of the shipping company’s stock worth $3,162,000 after purchasing an additional 39,983 shares during the last quarter. Sei Investments Co. acquired a new position in Danaos in the 1st quarter worth about $1,484,000. Chesapeake Capital Corp IL acquired a new position in Danaos in the 4th quarter worth about $940,000. Finally, Campbell & CO Investment Adviser LLC increased its position in Danaos by 40.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 36,418 shares of the shipping company’s stock worth $2,697,000 after purchasing an additional 10,577 shares during the last quarter. 19.01% of the stock is owned by hedge funds and other institutional investors.

Danaos Stock Down 0.3 %

DAC stock traded down $0.26 during mid-day trading on Friday, hitting $83.84. The stock had a trading volume of 108,325 shares, compared to its average volume of 92,880. The company has a current ratio of 3.89, a quick ratio of 3.75 and a debt-to-equity ratio of 0.14. Danaos Co. has a 1-year low of $62.37 and a 1-year high of $98.25. The company has a fifty day moving average of $90.30 and a 200 day moving average of $80.08. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 2.85 and a beta of 1.51.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Tuesday, May 28th. The shipping company reported $7.15 EPS for the quarter, missing analysts’ consensus estimates of $7.71 by ($0.56). The company had revenue of $253.45 million for the quarter. Danaos had a net margin of 59.04% and a return on equity of 18.99%. During the same quarter last year, the company posted $7.14 earnings per share. On average, equities analysts expect that Danaos Co. will post 29.24 EPS for the current fiscal year.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Tuesday, June 11th. Danaos’s dividend payout ratio is 10.86%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their target price on Danaos from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th.

Danaos Company Profile

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.